In September, at the urging of the federal government, a group of Canadian companies voluntarily agreed to follow a new International Code of Ethics in their overseas activities. Though not legally binding, their attempt to raise corporate standards when it comes to human rights, the environment and corruption, endorses our belief that good ethics is good business.
Other News Sources
Letter to financial research and rating institutions
The following letter was sent to financial research and rating institutions, after it was announced in September that General Electric Canada, a wholly-owned subsidiary of Connecticut – based General Electric Company, was awarded a contract to supply turbines and generators to the Three Gorges dam project.
Review of economic impact study: Nam Theun 2 hydroelectric project
(September 26, 1997) Review of Louis Berger Economic Impact Study.
Local NGO adds to pressure on World Bank
(September 24, 1997) Non-government organisations have demanded that the World Bank address fundamental questions regarding the proposed Nam Theun 2 (NT2) dam before it goes ahead with the next stage of the US $1.5 billion project in central Laos.
Letter to socially responsible financial advisors and mutual funds
(September 24, 1997) The following letter was sent to socially responsible financial advisors and mutual funds managers , after it was announced in September that General Electric Canada, a wholly-owned subsidiary of Connecticut – based General Electric Company, was awarded a contract to supply turbines and generators to the Three Gorges dam project.
Letter to shareholders of General Electric Company
The following letter was sent to the largest shareholders in General Electric Company, after it was announced in September that General Electric Canada, a wholly-owned subsidiary of Connecticut – based General Electric Company, was awarded a contract to supply turbines and generators to the Three Gorges dam project.
Russians win deal for mega power plant
(September 15, 1997) Vietnam has hand-picked a Russian hydropower project design company to carry out the feasibility study for the country’s largest ever hydropower project in Son La province.
Southeast Asia’s biggest dams will have to go
(September 13, 1997) When 15 leaders of the 9,500 indigenous communities affected by Malaysia’s Bakun Dam received their compensation last month, they sent the cheques back to the government. One said he received a token Bt3.3, which made the cost of issuing the cheque higher than the compensated amount. No wonder opposition to Southeast Asia’s largest dam project continues despite the fact work has already begun.
Huge dam in Laos could be a nightmare
(September 2, 1997) Laos is dreaming of a huge dam that will finance development of its poor corner of Southeast Asia. But Nam Theun 2 may turn out to be a nightmare for Laotian tribal people, who will be forced to leave their homes. It could mean extinction for rare species like the Vu Quang ox, only discovered in this decade, the Indochinese water pig and the white winged duck.
Helping countries combat corruption: the role of the World Bank
(September 1, 1997) World Bank report states that “the Bank has a responsibility under its articles to ensure that the funds it lends to borrowers are used for their intended purposes and with due attention to economy and efficiency.”
Canada’s representative at the ADB downplays ADB role in Mekong hydro schemes
(August 12, 1997) Reply letter from Executive Director representing Canada on ADB’s Board of Directors regarding Canadian development assistance on hydropower dams along the Mekong River in China.
Canada’s representative at the ADB downplays ADB role in Mekong hydro schemes
(August 12, 1997) Thank you very much for your letter of 29 July 1997 indicating your opposition to “more than fifty large” hydropower dams along the Mekong River and its tributaries.
Conservationists who are enemies of the earth
(August 6, 1997) To the oil and mining companies, repressive governments and banks we list among the world’s exploiters, we must add another sector – conservationists. Unaccountable, opaque and pursuing a model of protection that is both repressive and outmoded, some of the world’s biggest conservation organisations are becoming indistinguishable from other neo-colonial corsairs.
Summary of RSI staff views regarding the problem of ‘leakage’ from World Bank project budgets
(August 1, 1997) Leaked World Bank document states that "at least 20-30 per cent of GOI [Government of Indonesia] development budget funds are diverted through informal payments to GOI staff and politicians."
The international debt crisis of Iraq
(August 1, 1997) This paper analyzes Iraq’s indebtness problem and investigates the applicability of debt-equity swaps as a means of alleviating the severity of Iraq’s external debt and obligations.
Probe International 